Sahara Properties Deal: Fresh Bid Intensifies Competition Against Adani Group

New Delhi: The battle to acquire Sahara Group’s 88 prime properties has intensified, with Srivansh Projects Private Limited, backed by a consortium of high-net-worth investors (HNI Investor Forum), emerging as a strong challenger to Adani Properties Private Limited.

The development has added a new dimension to the ongoing legal and financial process surrounding the monetisation of Sahara Group’s assets, a matter currently under consideration before the Supreme Court of India.

All-Cash Offer Claims Higher Valuation

According to information available, Srivansh Projects and the Investor Forum have submitted an intervention application before the apex court, asserting that their proposal offers a higher valuation and complete cash payment, unlike competing bids that may include structured or conditional components.

The group claims that its offer is designed to ensure faster execution, higher transparency, and maximum relief for aggrieved investors, a key concern in the long-running Sahara refund case.

Offer Communicated to SEBI Earlier

Sources indicate that Srivansh Projects had already communicated its proposal to the management board of the Securities and Exchange Board of India in October 2025. Following this, the company formally approached the Supreme Court seeking intervention in the matter.

While the term sheet between Adani Properties and the Sahara promoters remains sealed under court directions, Srivansh Projects has expressed its willingness to place its complete proposal on record publicly before the court.

₹2,000 Crore Upfront Deposit Offered

One of the most significant aspects of the competing bid is the consortium’s readiness to deposit ₹2,000 crore as an upfront amount with the court registry to demonstrate financial strength and seriousness of intent. Legal observers say such a move could play a crucial role in influencing the court’s assessment of bidder credibility.

Questions Raised on Execution Capability

The Investor Forum has also raised concerns regarding the execution capability and credibility of the Sahara promoters and directors involved in the earlier agreement. It maintains that its own pricing model, payment structure, and regulatory framework are sharply focused on ensuring timely disbursement through appropriate authorities, primarily for the benefit of affected investors.

High-Stakes Case to Watch

With the next hearing approaching, the contest for Sahara Group’s assets is expected to become more intense. Market experts believe the final decision may depend on which bidder can convincingly demonstrate financial capability, transparency, regulatory compliance, and investor-centric outcomes.

The Sahara asset resolution remains one of India’s most closely watched cases, with significant implications for investor confidence and corporate accountability.

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